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Hessam Nadji: CRE Still Solid
Analysts have been wondering if the bull years of commercial real estate are coming to an end. Hessam Nadji, CEO of Marcus & Millichap, is not one of them. “In a low-yield environment, commercial real estate shines as an alternative,” Nadji said, in a recent interview. He added that over-leveraging and overbuilding have yet to make an appearance.
Nadji is especially bullish on office properties, indicating such assets have had a “late-to-the-party” recovery. These days, continued demand and not much supply coming to the market has led to a healthy rent growth. Nadji also said that professional and business services sectors are forecast to add at least 600,000 new jobs in 2016, another positive boon for office properties.
